Wednesday, June 14, 2017

Verizon Completes $4.48 Billion Purchase of Yahoo, Ending an Era - The New York Times

Also see Marissa Mayer's farewell note (tl;dr: it wasn't my fault!)

"Yahoo’s chief executive, Marissa Mayer, resigned from the company after the deal closed. Although she failed to turn around Yahoo’s long-struggling business, she was well compensated for her five years leading the company, earning $246 million, or an average of $1 million a week, based on the company’s final stock price. During her tenure, Yahoo’s share price more than tripled as the value of its Asian investments soared.

Yahoo’s stockholders will retain shares in a new company called Altaba that will own its $52 billion stake in Alibaba Group and its $9 billion stake in Yahoo Japan.

“Looking back on my time at Yahoo, we have confronted seemingly insurmountable business challenges, along with many surprise twists and turns,” Ms. Mayer wrote in a farewell note to employees. “Working with you has made my time as C.E.O. nothing short of a privilege.”"
Verizon Completes $4.48 Billion Purchase of Yahoo, Ending an Era - The New York Times
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